Financial Daily from THE HINDU group of publications
Tuesday, Apr 05, 2005
Financial Daily from THE HINDU group of publications Tuesday, Apr 05, 2005 |
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Money & Banking
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Life Insurance Shriram life insurance foray by August Our Bureau
Mangalore , April 4 THE Chennai-based Shriram Group has applied for a licence for its foray into life insurance business. Addressing presspersons here on Monday, the President of Shriram Investments Ltd, Mr Umesh G. Revankar, said that the life insurance company is likely to begin operations by the end of July or first week of August. Stating that two to three foreign companies are being consulted on forming a joint venture, Mr Revankar said, "We have the capacity to start the business on our own, if nothing materialises." He hoped that Shriram Group would do well in this business as it has built its reputation and brand loyalty over the last three decades. The group companies have more than 15 lakh customers. The group, which has been distributing general insurance products of other companies, is also planning to start its own general insurance company within two years. More than five lakh general insurance policies have been issued in the last two years, he said.
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